Smart Lighting Market

Analysts at GMI Research estimates that the Smart Lighting Market size was worth USD 12.1 billion in 2021, and forecast to touch USD 50.2 billion in 2029, growing at a significant higher CAGR of 19.5% from 2022-2029.

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Key Smart Lighting Market Drivers

Major factors driving smart lighting market are rise in the construction of smart cities around the world, launch of new features in smart lighting such as data analytics, government policies promoting energy conservation and rapid increase in the installation of smart lighting solutions in highways, roadways and public places. Governments in many countries are focussing on building new smart cities, which uses latest technologies to improve living standards of their citizens. For instance, Dubai’s government has launched the “Dubai Plan 2021” which aims to transform the city into a leading smart city. Indian government provided allocated funds worth USD 58 billion to build smart cities across the country and these smart cities will include the use of ICT for e-governance and online government services. As the construction of smart cities increases worldwide, demand for smart lighting solutions such as LEDs will increase as more energy efficient as compared to traditional lightings, which will positively impact the smart lighting market.

Major players such as N.V., Osman Licht AG, and Zumtobel Group AG, are increasingly investing in research and development activities and focussing to launch Wi-Fi integrated lightings to strengthen their position in the market. Moreover, the growing demand for lighting systems incorporated with wireless and sensor technology coupled with rising awareness amongst consumers about the benefits of LEDs and fall in the prices of LEDs, are propelling the global smart lighting market. LED lights are gaining traction in the smart street lighting market as it is energy efficient, have longer lifespan as compared to other lights and can work in extreme temperatures. With the integration of lighting systems with smartphones and the development of the numerous smart home systems such as Amazon Alexa, Google Assistant, and Samsung SmartThings Hub, demand for smart lighting solutions is expected to increase in future.

However, high initial cost of hardware and software, interoperability issues and inadequate availability of skilled technicians, are restricting the smart lighting market growth. The emergence of the coronavirus crisis is adversely impacting the global smart lighting market around the globe. The strict lockdown has affected the raw material supplies of electronic components due to the temporary shutdown of manufacturing plants in China.

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Offering: Segment Analysis

Hardware segment is driven by continuous product innovation in the lighting controls, including lamps and luminaries. Integration of lighting control products with lights & luminaries has enabled the embedding of software on microcontrollers, thereby adding as a competitive advantage to the lighting control system. Additionally, software segment is propelled by growing use of software to simplify the light control using tablets or smartphones.

Based on Installation Type, New Installation segment is forecast to hold a major share in the market.

Rising demand for smart lighting system across various places such as homes, corporate offices, parking spaces, and shopping malls, is boosting the segments growth. Additionally, With the evolution of wireless technologies and the continuous development in electronics and sensor technology, demand for new installation and retrofit installations of smart lighting solutions, is expected to increase in the future.

Based on Application, Indoor segment is forecast to expand at a faster rate.

Growing use of Internet of Things (IoT) based lighting fixtures and smart lighting solutions, are augmenting the segment’s growth. Furthermore, increasing installation of smart road lighting system to improve visibility on the roads, which also helps in increasing safety levels, is positively impacting the growth of outdoor segment.  Several countries, such as Norway, are using the smart road lighting system to address the problem of useless illumination of densely or rarely travelled roads while saving the energy.

ZigBee segment is estimated to capture the largest smart lighting market share.

Growing demand for smart homes worldwide, is boosting the adoption of wireless technologies like ZigBee. Wired communication technology segment is driven by growing adoption of PoE solutions across various industries, such as commercial and healthcare will surge the growth of the smart lighting market. Major companies are focusing on developing more efficient and power-saving lighting products, which will create new opportunities in the smart lighting market.

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Based on Region, Europe is forecast to hold the largest market share.

Europe smart lighting market is propelled by construction of new smart offices across various European countries, growing adoption of connected lighting solutions and presence of various integrators, leading companies and integrators. Asia pacific smart lighting market is driven by growing emphasis on the minimization of the energy consumption by using smart lighting system in various developing nations such as India, China, and Japan. Governments are providing LED lights at subsidized price, which accelerating the market growth in region. In addition, continuous development of highways and roads with an aim to reduce power consumption will surge the demand for smart street lighting systems. India smart lighting market is driven by increasing availability of smart lights, advancements in lighting solutions and increasing awareness amongst consumers about the benefits of smart lighting.

GCC smart lighting market is propelled by the construction of new infrastructure projects, increasing economic activities, rising disposable incomes of consumers and growing urbanization. Major countries in the GCC region such as Saudi Arabia and United Arab Emirates, are focussing to reduce their dependency on oil gas sector by promoting tourism and other sectors. Government of Saudi Arabia is constructing large scale projects such as red sea development project and Qiddiya, which covers commercial, residential and infrastructure development. Such projects will increase the demand for smart lighting solutions in Saudi Arabia in future.

Smart Lighting Companies

Various notable players operating in the smart lighting market are Signify Holding, Legrand, Acuity Brands Lighting, Inc., Eaton Corporation, General Electric Company, OSRAM GmbH., Leviton Manufacturing Co., Lutron Electronics, Zumtobel Group AG, Honeywell International Inc., and Hubbell, among others.

Key Developments:

• • In February 2020, OSRAM GmbH, a major Photonics company based out of Germany announced that it has partnered with Casambi, which is a leading provider of wireless lighting controls. This partnership will enable OSRAM to use Casambi’s embedded Bluetooth module and software technology to develop smart lighting control software solutions.
  • In January 2020, Legrand announced is expanding its smart lighting products, which include devices that can integrate Netatmo technology.
  • In February 2020, Leviton Manufacturing Co., introduced New Decora Smart Voice Dimmer with Amazon Alexa Built-in, to integrate smart lighting and voice assistant in one device.

Segments Covered in the Report

Global smart lighting market has been segmented based on Installation Type, Offering, End-Use Application, Communication Technology, and region. Based on Installation, the market is segmented into New Installations and Retrofit Installations. Based on Offering, the market is segmented into Hardware, Software and Services. Based on End-Use Application, the market is segmented into Indoor and outdoor. Based on the Communication Technology, the market is segmented into Wired technology and wireless technology.

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Market Segmentation

Global Smart Lighting Market by Installation Type

• • New Installation
  • Retrofit Installation

Global Smart Lighting Market by Offering

• • Hardware
  • Software
  • Services

Global Smart Lighting Market by End-Use Application

• • Indoor
  • Outdoor

Global Smart Lighting Market by Communication Technology

• • Wired Technology
  • Wireless

Global Smart Lighting Market by Region

• • North America Smart Lighting Market (Option 1: As a part of the free 25% customization)

    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • US Market All-Up
    • Canada Market All-Up

  • Europe Smart Lighting Market (Option 2: As a part of the free 25% customization)

    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Smart Lighting Market (Option 3: As a part of the free 25% customization)

    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Smart Lighting Market (Option 4: As a part of the free 25% customization)

    • By Installation Type
    • By Offering
    • By End-Use Application
    • By Communication Technology
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Smart Lighting (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Signify Holding
  • Legrand
  • Acuity Brands Lighting, Inc.
  • Eaton Corporation
  • General Electric Company
  • OSRAM GmbH.
  • Leviton Manufacturing Co.
  • Lutron Electronics
  • Zumtobel Group AG
  • Honeywell International Inc.
  • Hubbell Incorporated